Andalas Energy And Power Share Discussion Threads

[gunsofmarscapone] 08/3/2019 21:51

I have to apologise, no idea who Whitby is but I do know a respectable and honest chap when I see one so I have no issue with Simon. His efforts to understand the cultures in which he operates is an admirable quality. This is one of those occasions though where all the holes in the risk cheese lined up (Reason model if anyone interested).

It really cheers me up when LTH’s succeed with their investment choices, unlikely to occur here now I think.

[therealtonythetiger] 08/3/2019 21:50

Guns
Ive always loved the "Not a holder btw" comments so why did you turn up today. ?? serious question. btw..

[thaohemmings4] 08/3/2019 14:28

Buyers are reported as sellers !

[tomboyb] 08/3/2019 12:11

Picked around 2.5mill below 0.20p or thereabouts -

No idea why there is quite a bit of interest in adl so someone will push the share price up at some stage -

[zen12] 08/3/2019 10:20

Nothing much to lose now, with money in the bank from recent placing they have money to survive and hopefully make some better decisions.

[tomboyb] 08/3/2019 08:14

I did -

1.49p however sold at 2.4p -

Not much left to adl but there is interest here -

[ammu12] 08/3/2019 08:11

Maybe should have bought rmp

[tomboyb] 08/3/2019 08:05

Fully funded at the moment but bought a few wife's account - (trade)

0.20p -

[phil1969] 08/3/2019 08:00

Time to cut your losses and back a winner. Too many positives in fundamentals to mention but tiny mcap with massive upside. Risk reward massively in favour of short term bag running up to asset updates which come thick and fast. MAFL

[ammu12] 08/3/2019 07:41

Investors can still recover money from rmp

[oilbuy] 08/3/2019 07:12

Bad for AIM in general*

[oilbuy] 08/3/2019 07:11

The pain never stops at ADL. Bad for in general and retail investors who got sucked in.

[tinker10] 08/3/2019 07:07

Strike 3

Not a lot left

[therealtonythetiger] 08/3/2019 07:06

Update on Eagle Gas Limited

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Friday 08 March, 2019
Andalas Energy and Power Plc
Update on Eagle Gas Limited
8 March 2019

Andalas Energy and Power Plc

(‘Andalas̵7; or the ‘Company’;)

Update on Eagle Gas Limited

Andalas Energy and Power Plc, the AIM listed oil and gas company (AIM: ADL), has been advised by Eagle Gas Limited (“Eagle”) that Holywell Resources Limited (“HolywellR21;), the operator of Southern North Sea Licence P2112 (“Licence̶1;), and Atlantic Petroleum UK Ltd (“AtlanticR21;) have elected to relinquish the Licence.

Simon Gorringe, CEO of Andalas Energy and Power PLC said: “We are disappointed that the Licence will be relinquished. However, whilst Holywell has undertaken discussion with a number of interested parties regarding participation in drilling the proposed well, it has been unable to secure a partner within the time permitted under the Licence and therefore it has no other practical course of action. We remain interested in the Badger prospect and we will consider options to apply for a new licence. In parallel Eagle will continue to pursue various other opportunities it is developing.

“We are continuing to assess new business opportunities and will make a further announcement as and when appropriate.”

Andalas holds 25% of the equity of Eagle which wholly owns Holywell. Holywell owns 66.67% interest in the Licence and the remainder is held by Atlantic.

[therealtonythetiger] 08/3/2019 07:05

COLTER UPDATE
Andalas Energy and Power Plc (AIM: ADL) has been informed by the Operator (Corallian Energy Limited) that the sidetrack well 98/11a-6Z has encountered the top of the Sherwood Sandstone reservoir below the level of the 98/11-3 oil water contact and did not penetrate the predicted fault bounding the target Colter Prospect. The well will now be plugged and abandoned and the rig released. Andalas has an 8% interest in Licence P1918, including the Colter Area Prospects.

As previously reported on 25 February 2019, the Colter well (98/11a-6) was drilled as a vertical well with the Ensco-72 jack-up rig and reached a Total Depth of 1870m MD in the Sherwood Sandstone. The well was drilled to appraise the 98/11-3 well, drilled in 1986 by British Gas, within the Colter Prospect. The 98/11a-6 well unexpectedly remained on the southern side of the Colter Prospect bounding fault but encountered oil and gas shows over a 9.4m interval at the top of the Sherwood Sandstone reservoir. A petrophysical evaluation of the LWD data has calculated a net pay of 3m. Similar indications of oil and gas were encountered in the 98/11-1 well, drilled in 1983 by British Gas, within the Colter South fault terrace. Provisional analysis of the new data indicates that the two wells may share a common oil-water-contact having both intersected the down-dip margin of the Colter South Prospect. The Operator (Corallian Energy Limited) gave its most recent assessment of the Colter South Prospect prior to drilling the 98/11a-6 well at an estimated mean recoverable volume of 15 mmbbls. Further work will be required to refine this assessment with the new well data.

A decision was made by the Joint Venture to drill a side-track (98/11a-6Z) to the north to evaluate the Colter Prospect. The well has now been drilled to a Total Depth of 1910m MD and encountered the Sherwood Sandstone below the oil-water-contact of the 98/11-3 well. Initial evaluation of the data from both wells indicates that the Colter Prospect is smaller than pre-drill estimates. The Colter South discovery remains an opportunity to evaluate further as it is now areally more extensive than indicated by the pre-drilling mapping. In addition, the side-track encountered oil and gas shows in the Jurassic Cornbrash-Lower Oxfordian interval, the producing reservoirs in the Kimmeridge oilfield, and this provides an interesting potential target on trend to the west within the onshore licences held by the Joint Venture. The data from these well results and existing data will be incorporated to determine the best forward plan.

The Joint Venture partners would like to thank the well operator Fraser Well Management, rig operator Ensco and all the many contractors who assisted with the drilling operations which have been completed safely in an environmentally sensitive area.

Simon Gorringe, CEO of Andalas Energy and Power PLC said: “The Colter appraisal programme has delivered a larger than expected Colter South prospect and significantly increased our understanding of the broader Colter prospect. The results of the sidetrack does, however, indicate that overall the Colter prospect is smaller than initially expected, but the results from the drilling of the sidetrack did deliver encouragement for our adjacent onshore prospects from the good shows encountered in the Middle Jurassic.

“The joint venture will now integrate the results of the programme into its evaluation of the way forward to commercialisation of the Colter prospect and the enlarged Colter South prospect. We have now met our financial obligations under the farm-in agreement and there are currently no outstanding obligations under the licence.”

[jammytass] 07/3/2019 17:37

We would like to make it absolutely clear this 👇 is not oil. The residue you see is silt deposits and dead seaweed washed ashore, normal for this time of year, especially after stormy weather. Rest assured we will continue to monitor our shoreline